Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in Consolidated Edison, Inc. (NYSE:ED) by 64.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 358,424 shares of the utilities provider’s stock after purchasing an additional 140,266 shares during the period. Teacher Retirement System of Texas owned approximately 0.10% of Consolidated Edison worth $31,982,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ED. United Bank acquired a new position in shares of Consolidated Edison in the third quarter valued at approximately $227,000. Empowered Funds LLC grew its holdings in Consolidated Edison by 7.6% during the third quarter. Empowered Funds LLC now owns 5,785 shares of the utilities provider’s stock worth $602,000 after acquiring an additional 409 shares during the period. Thrivent Financial for Lutherans raised its position in Consolidated Edison by 11.8% in the third quarter. Thrivent Financial for Lutherans now owns 35,104 shares of the utilities provider’s stock worth $3,655,000 after acquiring an additional 3,716 shares in the last quarter. Pathstone Holdings LLC raised its position in Consolidated Edison by 10.2% in the third quarter. Pathstone Holdings LLC now owns 37,528 shares of the utilities provider’s stock worth $3,908,000 after acquiring an additional 3,475 shares in the last quarter. Finally, Caprock Group LLC raised its position in Consolidated Edison by 30.6% in the third quarter. Caprock Group LLC now owns 4,426 shares of the utilities provider’s stock worth $461,000 after acquiring an additional 1,038 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ED shares. Mizuho increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. UBS Group increased their price objective on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Barclays increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $102.10.

Consolidated Edison Trading Up 1.0 %

Consolidated Edison stock opened at $108.54 on Friday. The stock has a market cap of $37.64 billion, a PE ratio of 20.71, a P/E/G ratio of 3.05 and a beta of 0.30. The stock has a 50-day moving average price of $97.52 and a 200 day moving average price of $98.39. Consolidated Edison, Inc. has a 52 week low of $87.16 and a 52 week high of $109.78. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities research analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.